Hereby JSC "Latvijas kuģniecība" (Latvian Shipping Company - LASCO) informs that today, 31 July 2007, its fleet has been expanded with another newly built tanker: LASCO took the delivery of the seventh of in total fourteen tanker newbuildings ordered at 3.Maj shipyard in Croatia. A festive delivery ceremony of m/t Usma was held in the presence of the ship's God Mother Mrs. Irena Pumpura, the spouse of Mr. Uldis Pumpurs, Chairman of LASCO Supervisory Council. To implement its main strategic goal set in LASCO Strategic Plan 2005-2010, namely, to retain the Group's position among the world's top ten handy-size and middle-range tanker owners at the same time preserving its leading position in the North European market, 14 new double hull tankers built to ice class 1B are to be added to LASCO's fleet. They represent two series of newbuildings ordered at the same shipyards (3.Maj shipyard in Croatia and Hyundai Mipo Dockyard Ltd. in Korea), which enabled the Company not only to decrease the vessels price, but also to minimize their running costs. Six middle-range (51,800 dwt each) double-hull ice-classed tankers compliant with all EU marine safety requirements and international conventions have been already delivered to LASCO by 3.Maj, while their four sister-vessels are scheduled for the delivery in 2007-2008. In total, already nine newbuildings have been delivered to LASCO since summer 2006. Thus, at present JSC Latvijas kuģniecība fleet comprises 32 tankers, 2 LPG carriers, 5 reefer vessels and 1 Ro-Ro/general type vessel, as well as three tankers (Blue Star, Green Star and Maria M) time chartered in from other ship-owners. For detailed information: Marita Ozolina-Tumanovska Head of Public Relations Department Phone: (+ 371) 67020120, 29287169 E-mail: marita.ozolina@lscgroup.lv